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Outcomes of the SAMRO AGM held on 11 December 2018

Outcomes of the SAMRO AGM held on 11 December 2018

On 11 December 2018, the SAMRO annual general meeting (AGM) was held. The AGM was attended by SAMRO members in their various membership categories.

The following reports, were amongst those presented by the Chairman (SAMRO Board of Directors), CEO and CFO of SAMRO:

The Chairman’s Report;

The CEO’s Report;

Three Pillar 2020 SAMRO strategic plan;

A presentation of the new executive team headed up by CEO Ms Nothando Migogo and CFO Ms Ditebogo Modiba CA(SA);

The Annual Financial Statements for the year ended June 2018 (as recommended for approval by the Audit & Risk Committee);

A report on significant financial events and decisions made during, or affecting, the financial year in question; and

A progress update on the AEMRO investigation.

The following resolutions were passed at the AGM:

Re-appointment of the auditors;

Repayment of loan relating to the financing of SAMRO House (Pty) Ltd;

Appointment of CFO, Ms Ditebogo Modiba.

During the AGM, the directors listed below tendered their resignations from the SAMRO board of directors:

Mr Jerry Mnisi (Chairman)

Ms Sibongile Khumalo (Deputy Chairman)

Mr Joe Niemand

Mr Sipho Mabuse

Mr Loyiso Bala

Prof Jeanne Zaidel-Rudolph

Mr John Edmond

At this AGM the SAMRO members listed below were nominated and subsequently voted onto the SAMRO board of directors.

Ms Natalie Sanderson (Publisher)

Mr Ryan Hill (Publisher)

Mr Sello Twala (Composer)

Ms Wendy Oldfield (Composer)

Mr David Alexander (Publisher)

Ms Linah Ngcobo (Composer)

Mr Gabi Le Roux (Composer)

Dr Sipho Sithole (Composer)

The meeting voted for the following serving board members to remain on the board:

Ms Relebogile Mabotja (Publisher)

Mr Rowlin Naicker (Publisher)

(All board appointments, as per the outcome of the elections, are subject to compliance with the Companies Act provisions governing the eligibility of board directors. Only once these provisions are complied with, will the board appointments be confirmed).

All votes during the meeting were conducted by show of hands of the members physically present at the AGM plus proxies held by each member physically present. This was an unprecedented move away from the historically accepted electronic, weighted voting method used at SAMRO. At this AGM this historically accepted method was argued by members to be unfair and favouring publisher members with high earnings, and members insisted that voting must conducted by show of hands as provided for in SAMRO’s Memorandum of Incorporation (MOI).

The voting process was supervised and adjudicated by independent consultants and scrutineers and was verified by SAMRO’s auditors PricewaterhouseCoopers (PwC).

The AGM was facilitated by Mr Terry Tselane, former Vice Chairman of the Independent Electoral Commission (IEC).

The Road Ahead:

In her CEO’s report, Ms Migogo outlined the need for the organization to move into 2019 with rigorous commitment to finalizing legacy issues which have weighed down on the organization during 2018 and to use these as learnings as the organization prioritises the continued implementation of the 2020 Strategy; the first pillar of which is the optimization of SAMRO’s current business to ensure efficiencies in all areas of the business.

Ms Migogo also presented her executive team in charge of spearheading the rollout of the strategy to the meeting as follows:

CFO – Ms Ditebogo Modiba CA(SA)

Manager: CEO office – Mr Manqoba Kubheka CA(SA)

GM Rightsholder Services – Mr Karabo Senna

GM IT – Ms Tanya Castignani

GM Licensing – Mr Stephenson Mhlanga

GM Distributions – Mr Clinton Hornet

GM Data Intelligence – Mr Thomas Windisch

GM HR – Ms Grace Khambane

SM Legal – Ms Chola Makgamathe

SM Stakeholder Relations – Adv. Nkateko Maluleke

Subsidaries:

MD SAMRO Foundation (Group Corporate Affairs) – Andre Le Roux

MD DALRO – Lazarus Serobe

SAMRO would like to thank the outgoing board members for their commitment, service and dedication to SAMRO over the years.

A statement from the new board will be released once the verification process is completed and the new SAMRO board of directors confirmed.